Results tagged “budgetdoomsday”

It's well-known around town that the CTA needs money something fierce and is looking everywhere to find some money. It won't come from a second fare hike this year, as last week the CTA said they wouldn't be doing that. $1.4 billion is due from the federal government later this year but the CTA itself says it needs $7 billion to get itself fully up to speed (which we're sure all that Olympic cash would totally fix, right?). CTA President Richard Rodriguez has even said he's going to put an end to the free company cars that nearly 70 CTA employees take advantage of, including himself, as a means to cut spending. But where does all this money go? How much does it cost to run the CTA? The Sun-Times offers up this pretty nifty interactive graphic which shows you how costs break down for the agency. [h/t Windy Citizen]

Well, this perks us up on a Humpday. In spite of threats to the contrary throughout the first half of the year, the CTA announced today there will be no service cuts or fare hikes through the end of the year to help the agency close its budget gap. Good news for riders, indeed. Of course, there's still the issue of how exactly do they close that gap, the $190 million in funding cuts the CTA has undergone already this year, and what exactly will happen next year. But it is a bit of small relief to, for once, not have the Budget Doomsday card played. Um, right? [WBBM]

While one of three unions that have been holding out on a labor deal with Mayor Daley has agreed to terms with the Mayor, two others are still not budging as Daley's self-imposed midnight deadline approaches tonight. Laborers Local 1001 recently reached an agreement with the Mayor, leaving just the Teamsters and the American Federation of State, County and Municipal Employees (AFSCME) as the lone hold-outs, according to the Tribune's Clout Street. Daley has been threatening to lay off as many as 1,500 workers if the city's unions didn't reach a deal with him that included concessions and unpaid holidays. The city claims deals reached with other unions have saved 800 jobs and that if the two hold-out unions don't come to an agreement, around 700 jobs from those two groups will be cut.

State legislators may need more time to "warm up" to an income tax increase. Which is why Governor Pat Quinn will take a break from his 67 percent income tax rate hike proposal, giving legislators until the fall to make a decision. Quinn told the Tribune he would focus on passing a "bare bones budget" to meet government needs until the tax hike is reconsidered in the fall.

• The Chicago Public Schools are holding hearings this week on a potential new set of schools, including a pair of live-in schools.
• The number of state worker layoffs coming from Gov. Quinn's budget cuts? 2,600.
• Weird Science story of the day: using Facebook to crack Social Security Numbers.

• The state budget doomsday is nigh: Gov. Quinn - in a speech to the General Assembly today - promised to veto the "half-baked" budget proposal that's most likely going to be sent to him before tonight's midnight deadline.
• A judge sentenced a corrupt former cop to 11 years in prison and exclaimed, “In this city, it seems to me we are bombarded by stories and cases and prosecutions of police misconduct."
• Spider-Man, Spider-Man, stealing whatever a Spidey can.